BT Investment Management Ltd Purchases Shares of 6,642 Broadcom Limited (AVGO)
BT Investment Management Ltd purchased a new stake in Broadcom Limited (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,642 shares of the semiconductor manufacturer’s stock, valued at approximately $1,548,000.
A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. BlackRock Inc. grew its holdings in Broadcom Limited by 2,707.3% in the 1st quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock valued at $5,064,971,000 after buying an additional 22,307,935 shares during the period. Vanguard Group Inc. grew its holdings in Broadcom Limited by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock valued at $5,861,217,000 after buying an additional 1,746,144 shares during the period. Harbour Capital Advisors LLC grew its holdings in Broadcom Limited by 22,924.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock valued at $6,569,000 after buying an additional 1,524,256 shares during the period. Wellington Management Group LLP grew its holdings in Broadcom Limited by 29.3% in the 1st quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after buying an additional 1,519,598 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Broadcom Limited by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after buying an additional 1,338,695 shares during the period. Institutional investors own 89.70% of the company’s stock.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total value of $2,445,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,788 shares of company stock valued at $10,208,337 in the last 90 days. 3.60% of the stock is owned by corporate insiders.
Several analysts have commented on AVGO shares. Deutsche Bank AG lifted their price target on Broadcom Limited from $275.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 25th. Vetr cut Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target for the company. in a report on Monday, September 4th. Morgan Stanley restated an “overweight” rating and issued a $265.00 price target (up previously from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Pacific Crest restated an “overweight” rating and issued a $260.00 price target on shares of Broadcom Limited in a report on Wednesday, May 31st. Finally, B. Riley restated an “avgo (” rating and issued a $305.00 price target on shares of Broadcom Limited in a report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $274.48.
Broadcom Limited (NASDAQ:AVGO) opened at 249.82 on Tuesday. The company has a market capitalization of $101.92 billion, a P/E ratio of 190.27 and a beta of 1.07. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The company’s 50-day moving average price is $249.02 and its 200-day moving average price is $236.63.
Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company earned $2.89 EPS. On average, equities analysts forecast that Broadcom Limited will post $15.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be given a dividend of $1.02 per share. The ex-dividend date is Monday, September 18th. This represents a $4.08 annualized dividend and a dividend yield of 1.63%. Broadcom Limited’s dividend payout ratio (DPR) is presently 348.72%.
About Broadcom Limited
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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